Week 3 Remote learning, Due April 27, 2020

Enjoy Patriots' Day on Monday,  I'm still waiting for a Celtics Day off

I. Listen to the great toilet paper shortage of  2020 and answer the questions

https://www.washingtonpost.com/podcasts/post-reports/the-great-toilet-paper-shortage-of-2020/

CP1 answer 4 of 6,  Honors 5 of 6
1.  Why do psychologists say people hoard toilet paper in these stressful and out of control times?  What sense does it give people?
2. Why has the supply chain for TP broken down?  What does industry have to adapt to?
3. Which decade did TP become an essential part of American life?  How did advertisers convince house wives to buy it?
4. What was used before TP?  Do you think people will go back to this? Will America increase demand for things like  a bidet (toilet that sprays water)?
5. If the government set limits on TP do you think a black market in TP would develop?
6. How is this an economics story?  What are the trade offs in this scarce commodity?

II. Listen to Mr. Clifford's Econ movie review of Ready Player One 
https://www.youtube.com/watch?v=P09bFa6JXGM

CP1 answer 4 of 5,  Honors answer all 5.
1. There are three types of virtual economies: closed flow, hybrid, and open flow.  Which is the only type not taxed by the IRS?
2.  Clifford claims the economics key to happiness is avoiding what?
3. What Speilberg movies does Clifford compare to Ready Player One?
4. What is the key to your happiness in the future?  Peace of mind and control of what?
5. Do you agree or disagree with Clifford's economic view of your future happiness?  Explain in at least one paragraph.

I hope all is well.
Stay safe